Singapore Government announces major retrofit subsidy

In his opening address at the International Facility Management Association World Workplace Asia Conference, guest of honor Dr. Mohamad Maliki Bin Osman, Senior Parliamentary Secretary for Defense and National Development announced a new Singapore Government subsidy for retrofitting of buildings that are Green Mark compliant. Starting July 26th, the Government increased the subsidy from 35% to 50% of total capex cost for building retrofits, depending on the level of certification achieved. The Government will also co-fund those costs, including consulting costs and hard costs.

Singapore’s target is for 80% of total building stock to be Green Mark certified by 2030 – one of the more ambitious green building targets in the world. That target, along with previous Government regulations and initiatives, has made Singapore globally known as the leader in green building thought leadership.

With this new subsidy program, as well as some new regulations such for buildings to have three annual audits and a requirement for utility companies to submit building data, Singapore is quickly positioning itself as the trailblazer in green buildings in the world.